Business

Mar 17, 2017 | 01:54

Latin Americans up in arms as economy sinks

Angered protesters have been taking to the streets of Latin America among rising frustration at the dire state of its economies and mounting discontent with its politics. Silvia Antonioli reports on this week's key events shaping investor sentiment towards the continent.

TRANSCRIPT +

Protests shaking South America this week.
People taking to the streets against pension reforms in Brazil, fighting for a better pay in Argentina and exasperated by food shortages in Venezuela.
Saying they have been betrayed by the privileged elites.
(SOUNDBITE) (Portuguese) PROTESTER, PALMIRA DOMINGUES, SAYING:
"It angers me to see the country in ruins because of their (politicians') thieving. Now we have to fix things because of this thieving they've done, their privileges that they have always had, pensions for their children that they have."
With some once mighty economies quickly sinking, the region is struggling to attract foreign investors.
(SOUNDBITE) (English) HARGREAVES LANSDOWN SENIOR ANALYST, LAITH KHALAF, SAYING:
"If you are looking at investing in areas like Latin America, clearly there are lots of risks involved. There's political risks, there is corporate governance risk. And all those risks should be considered."
Once the first letter of the admired BRIC, Brazil is now grappling with its worst recession in more than a century.
Argentina is only slowly re-emerging from a painfully long downturn.
And Venezuela is crumbling under a grueling economic crisis.
Seemingly unfazed by the challenge, its president, Nicolas Maduro, branded the head of the Organisation of American States as "human garbage" after the diplomat called for new elections in the country.
(SOUNDBITE) (Spanish) VENEZUELAN PRESIDENT, NICOLAS MADURO, SAYING:
"We are going to do something serious. Nobody threatens Venezuela, least of all this human garbage."
Chile is trying to look ahead by meeting the remaining members of the Trans-Pacific Partnership.
The aim is to find a new meaning for the trade pact after the U.S.' exit from the group.
And while Mexico is also under pressure from Trump's stance on trade and migration,
some have found a more artistic way to express their discontent towards US policies.

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